Aletho News

ΑΛΗΘΩΣ

Bolivia to Expand Gas Production 33% by 2020 – Energy Minister

Sputnik — 07.07.2016

Bolivia will expand gas extraction by more than 20 million cubic meters daily or more than 33 percent by 2020, Minister of Hydrocarbons and Energy Luis Alberto Sanchez said Thursday.

The discovery of new gas fields was announced jointly by the Spanish company Repsol and the Bolivian state-owned oil and gas company YPFB this February, which increased the country’s gas reserves by 40 percent.

“The total gas production now is approximately 60 million cubic meters per day. By 2020, through putting important projects into operation aimed at preventing a drop of gas fields reserves and guaranteeing supplies to domestic and foreign markets, the production is expected to grow for more than 20 million cubic meters,” Sanchez said as quoted by ABI News Agency.

As of 2013, Bolivia’s gas reserves were estimated at about 302 billion cubic meters. According to the Repsol Bolivia President Diego Diaz, gas deposits on the Caipipendi block are assessed as additional 115 billion cubic meters.

Russian gas giant Gazprom also expressed interest in work in Bolivia. During the St. Petersburg International Economic Forum (SPIEF) in June, Gazprom, Bolivian Ministry of Hydrocarbons and Energy and YPFB signed a road map on the implementation of projects in the country, in particular, exploration, production and transportation of hydrocarbons, as well as the use of the liquefied natural gas (LNG).

July 7, 2016 - Posted by | Economics, Phony Scarcity | ,

3 Comments »

  1. Given the oversupply of oil, and the massive increase in Gas supply world wide, I guess the ‘legend’ of Peak Oil was slightly overdone!!

    Comment by Brian Harry, Australia | July 7, 2016 | Reply

    • Ditto the inane “war for oil” nonsense.

      Comment by aletho | July 8, 2016 | Reply

      • “Like”

        Comment by Brian Harry, Australia | July 8, 2016 | Reply


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s